If you are a general contractor, a contractor, or a subcontractor, or do you hire contractors for your business? If you answered yes to any of the above, then it is critical that you understand contractors insurance.

What Is Contractors Insurance?

Contractors insurance is necessary if a business focuses on one or more of the following:

  • construction
  • carpentry
  • plumbing
  • cleaning
  • electrical work
  • landscaping
  • painting
  • snow removal

Since these categories cover a wide range of businesses and needs and every business is different, there are a variety of insurance options, ranging from standard policies to a mixture of coverages that may be appropriate for your business.

However, some issues are common to almost every contractor, including:

  • Bodily injury and property damage- Many contractors work with heavy machinery and tools. If you do, or you hire workers who do, you should be concerned with potential accidents related to your equipment.
  • Product liabilities- If you deliver a product or serve food, you must consider potential injuries to those recipients, and illness.
  • Medical and disability- In addition to the safety of others, it’s also important to consider an owner’s own health. An owner needs coverage in case of becoming ill or being injured.
  • Errors and omissions- If you provide consulting advice, such as that provided by landscapers or others, you risk liability. Coverage is needed in case a client experiences loss as a result of the advice.

In order to meet the specific needs of your specific operations, you may wish to consider other insurance options, including the following:

  • General liability
  • Completed operations/products
  • Contract liability
  • Commercial vehicle
  • Workers’ compensation
  • Professional liability

If you run your own business, it is important to review your insurance policies annually, making any changes that may be necessary to meet your business’s needs. Contact Brazelton Insurance Group for help today!